PUB chain Porter Blacks has gone into receivership and been taken over by new management.

KPMG Corporate Recovery is currently running business as usual while it looks for a buyer.

The pub chain Porter Black Holdings operates 32 licensed premises across the UK, including the one on the Riverside in Chippenham.

The manager of the town's Porter Blacks, who did not want to be named, denied claims that the pub chain had gone bankrupt. "We have not gone bust. The solicitors are dealing with it at the moment. End of story," she said.

Porter Blacks Holdings now owes the pub operator Regent Inns £4.26 million after agreeing to buy 17 unbranded pubs from them last October.

Wilma Littlejohn, spokesman for KMPG, said it was called in by the bank because the company was suffering from financial difficulties.

She said they did not know how long Porter Black would be in receivership or who a prospective buyer would be.

"We will continue to trade business as usual but it will be under different management," she said.

"We could trade a business for a year before we find a new buyer. It depends on the market and who is interested."

Youngs and Co Brewery has confirmed that it is considering making a bid.

"We have looked at the company and we are considering it but we have not made a bid," said Michael Hardiman, spokesman for Youngs.

Youngs runs a chain of traditional and modern pubs and cafes across the UK and specialises in real ale.

Porter Blacks is well known for its live entertainment and regular customers may be worried that this would be lost with a new owner.

But Youngs has many successful music venues including the famous jazz and rock bar the Half Moon in Putney. Mr Hardiman said Youngs would be ideally placed at Porter Blacks.

"Firms have expressed interest but actual bids are just speculation at the moment," said Ms Littlejohn.